Housing Wire

MAY 29, 2024

According to the Nationwide Multistate Licensing System (NMLS), Kind Lending had 87 sponsored loan officers and 23 active branches as of Wednesday. billion in mortgages from January to March, more than double (+104%) its volume during the same period in 2023, according to Inside Mortgage Finance. The lender originated $1.26

Lending 265

Lending Loan Officers Retail Legal 265

Housing Wire

MARCH 28, 2024

According to the DOL, they must pay $35,000 in emotional damages and the legal fees of the two employees who reported consumer fraud concerns. In July 2023, company executives told HousingWire that they were expanding their market share by growing their existing footprint in a margin-thinning environment. mortgage lender in 2023.

Human Resources 350

Human Resources Legal Fees Loan Officers Retail 350

Housing Wire

MARCH 6, 2023

A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act ( WARN Act ). But it didn’t unfold like that, according to the complaint. “On Volumes reached $5.9

Loan Officers 367

Loan Officers Retail Legal Lending 367

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. In another case, UWM settled a lawsuit with broker shop Mid Valley Funding in June 2023.

Contracts 414

Contracts Loan Officers Lending Retail 414

Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. billion in mortgages in 2023. A former Draper and Kramer LO who is not joining NAF said that sales staff began leaving in November 2023, and some top LOs announced their transition to other companies earlier in January. and NFM Lending.

Loan Officers 368

Loan Officers Human Resources Law Mortgage 368

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 366

Loan Officers Legal Real Estate Lending 366

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). HousingWire reported in January 2023 that Strauss was ready to start a new mortgage company after registering Smart Rate in Florida.

Business 400

Business Loan Officers Law Mortgage 400

Housing Wire

APRIL 1, 2024

” “In November 2023, Mr. Grella requested and agreed with NEXA to a buyout of his membership interest in NEXA and its subsidiary companies, which include the ongoing aviation business that Mr. Grella was also approved of which NEXA currently leases an aircraft hangar ,” Kortas said. of the company and Grella had a 49.5%

Brokerage 334

Brokerage Business Loan Officers Legal 334

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As He’s sending 98% because we are the best.

Loan Officers 447

Loan Officers Mortgage Business Retail 447

Housing Wire

APRIL 18, 2024

A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment.

Loan Officers 390

Loan Officers Human Resources Contracts Mortgage 390

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. according to the company.

Real Estate Agent 403

Real Estate Agent Loan Officers Real Estate Agents 403

Housing Wire

FEBRUARY 9, 2023

Amid the expectation of a wave of mergers and acquisitions in 2023, nonbank mortgage lenders American Portfolio Mortgage Corporation and Town Square Mortgage announced on Wednesday that the companies are merging their operations. Most of the originations were conventional and purchase loans.

Mortgage 335

Mortgage Retail Loan Officers Lending 335

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Starting March 1, 2023, servicers will be required to maintain data on borrowers’ age, race, ethnicity, gender and preferred language.

Lending 346

Lending Finance Loan Officers Legal 346

Housing Wire

FEBRUARY 1, 2023

UWM – which took the origination crown from competitor Rocket Mortgage in the third quarter thanks to its aggressive pricing strategy – also took another big step recently to reduce prices in 2023. The lender is offering a maximum of 40 basis points per loan to its brokers, with a total access to 125 bps, to gain market share.

Construction 393

Construction Real Estate Agent Loan Officers Legal 393

Housing Wire

FEBRUARY 26, 2024

CalCon Mutual Mortgage LLC , doing business as OneTrust Home Loans, originated $1.07 billion in volume across 2,747 units in 2023, according to data platform Modex. Newrez declined to comment on active litigation but noted it will “vigorously pursue all legal remedies available to us.”

Retail 376

Retail Legal Lending Business 376

Housing Wire

NOVEMBER 23, 2022

Looking forward, the analysts say that industry profitability will likely remain challenged, with seasonal weakness in the fourth quarter of 2022 and the first quarter of 2023. Since relaunching operations, Interfirst also hired teachers and first responders to be loan officers. Cutting capacity.

Marketing 332

Marketing Loan Officers Business Mortgage 332

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. ” The letter states Seely committed to a recruitment budget of approximately $360 million by the third quarter of 2023 but reached $71 million. In 2020, it originated $8.5 The complaint was filed on Feb.

Retail 361

Retail Contracts Loan Officers Mortgage 361

Housing Wire

MAY 29, 2024

‘Flying under the radar’ Based on public data from Affirm — a market leader in the BNPL space — Wells Fargo economists Tim Quinlan and Shannon Seery Grein estimate that BNPL providers originated $46 billion in loans in 2023. It found 180 million BNPL loans originated that year for a total of $24.2

Mortgage 348

Mortgage Clients Sellers Loan Officers 348

Lamacchia Realty

MARCH 4, 2024

Unlike loan officers at the bank or credit unions who work for a single institution, mortgage brokers have access to a vast network of lenders, providing borrowers with a wider range of options. Additional Resources Mortgages November 14, 2023 Read More » What Is a Buydown?

Mortgage 69

Mortgage Legal Realty Buyers 69

Housing Wire

AUGUST 31, 2022

For example, within these firms, there are occupations such as loan officers, loan interviewers, title-related occupations, and loan counselors that could apply to both mortgage and non-mortgage lending. As a result, servicing hiring kept increasing even after the height of mortgage defaults.

Lending 382

Lending Mortgage Real Estate Loan Officers 382